US Sanctions Russian Crypto Mining Host Bitriver

[laredo7mm]

Do not think this will be a significant loss or concerning matter for Russia or crypto.

Imposed sanctions by the USA already proved to be ineffective. There is no way crypto can be used to put sanctions on Russia or any other country. Its borderless payment system makes it immune to any financial barrier. Maybe that is also the reason Russian banks now want to legalize crypto when a few months earlier we saw a negative sentiment towards crypto from them.

The sanctions we are seeing against Russia are amongst the most powerful the world has ever know largely because they are being enforced by the US and her allies. This latest sanction will even hurt Russia more. I hope that neutral countries and countries friendly to Russia will not aid the evasion of this sanctions. However, it is likely that China, North-Korea, Serbia might keep doing business with Russia.

Yes, we can see quickly they recovered after that. Now west will be forced to pay in rubles for gas and oil payments. The USA also depended on Russia for the rocket engine. Roksom is a Russian company that build a rocket engine that the USA used. So why don't they put sanctions on that company? It seems the USA is defending its own interest only and not imposing any sanctions on certain companies.

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[el kaka22]

I mean they did sanctions for almost every company from Russia, this shouldn't have been that difficult to see coming. Russia could have charities that get sanctioned at this point, I wouldn't be shocked. Mining is not the party that got attacked here, Texas has like a million of them, and it's hot as hell but they find ways to cool machines off somehow and they are supported there, American companies, built in America, and earning USD as well.

But if you are a Russian company, and have anything to do with any nation outside of Russia, these days you should be a little scared. It is like they are free dinner at this point where everyone takes a bite.

[stompix]

If you are mining cryptocurrency, then supplies of equipment from China are not blocked to Russia. I do not know what they write in the news, but China is very actively selling its products to Russia.

This is not China and Russia, stop making it like there are two entities, and Xi and Putin control everything.

It's about a Russian company that gets its mining equipment from a Chinese company.
And that Chinese company has $900 million in orders from just one US company and a total of nearly 6 billion over this year and half of the next year from listed companies , not counting the listing of BitFuFu with 1.5 billion and other plans like partnerships with Merkle, or Bitdeer's adventures in Texas and Wyoming.

Why risk this all for a company that will only pay you in roubles you can't exchange?
Sanctions don't work by patrolling the borders and ransacking convoys or merchandise, they work by making people not deal with that guy afraid of the consequences.

Before you even say something about China, remember Huawei? The giant phone company that can't put a single 5G chip in their flagship phone?

Now west will be forced to pay in rubles for gas and oil payments.

No, we don't.

The USA also depended on Russia for the rocket engine.

American Broomsticks!

[zasad@]

If you are mining cryptocurrency, then supplies of equipment from China are not blocked to Russia. I do not know what they write in the news, but China is very actively selling its products to Russia.

This is not China and Russia, stop making it like there are two entities, and Xi and Putin control everything.

It's about a Russian company that gets its mining equipment from a Chinese company.
And that Chinese company has $900 million in orders from just one US company and a total of nearly 6 billion over this year and half of the next year from listed companies , not counting the listing of BitFuFu with 1.5 billion and other plans like partnerships with Merkle, or Bitdeer's adventures in Texas and Wyoming.

Why risk this all for a company that will only pay you in roubles you can't exchange?
Sanctions don't work by patrolling the borders and ransacking convoys or merchandise, they work by making people not deal with that guy afraid of the consequences.

Before you even say something about China, remember Huawei? The giant phone company that can't put a single 5G chip in their flagship phone?

Now west will be forced to pay in rubles for gas and oil payments.

No, we don't.

The USA also depended on Russia for the rocket engine.

American Broomsticks!

I understand that the United States has the largest market and so on, but you don't know the Chinese. They will always do everything that is beneficial to them, despite sanctions and prohibitions. I am sure that there will be no direct contracts, but there will be different schemes for buying through intermediaries in Kazakhstan, Turkey and other countries.

[DrBeer]

I agree - there is no crisis for 75% of the Russian population.

75%? I doubt that. Most Russians are heavily dependent on Western brands just like the rest of the world. For example, recent Netflix debacle proved that many Russians were actively using their service.

You have a bad idea of ​​the real state of affairs in Russia. 25% is the population of Moscow and the top ten cities. These people, in their lives have seen, owned or own household goods and things produced in the west. These "lucky ones" can / could buy good equipment, things, products, elements of a rich life, etc. But 75% is wild poverty. I would say - genetic poverty. The cheapest things, the simplest surroundings, no joys of life, no prospects, no opportunity to move to a more comfortable place of life, no medicine, no services. But in abundance - unemployment, depression, illness, loans. The reality is that in Russia one of the strongest stratifications of society, given the fact that the layer that can be attributed to the middle class is very thin and has a clear geographical distribution.

[laredo7mm]

I understand that the United States has the largest market and so on, but you don't know the Chinese. They will always do everything that is beneficial to them, despite sanctions and prohibitions. I am sure that there will be no direct contracts, but there will be different schemes for buying through intermediaries in Kazakhstan, Turkey and other countries.

Some people just can not imagine another country could or will take the position of the USA as an economical powerbase. History has shown how great empires and economies raises and fall. Nothing is eternal in this world so if someone replaces the USA in the near future there is a very high chance it will be china and I am pretty sure they are also preparing this ground to take on the USA. At least Their 'One Belt, One Road (OBOR) initiative refers to that. They could succeed also they could fail but it is clear now the USA is facing challenges to keep its unipolar power intact.

[stompix]

I understand that the United States has the largest market and so on, but you don't know the Chinese.

Stop forcing an entire country into your patterns, a week ago there was another Russian guy who claimed the Chinese don't like cold.

Chinese are different from guy to guy, Cz is not Ma, and Xi isn't Jackie Chan, even when it comes to Bitmain do you think it's one sole company with a single guy in charge?Look at this:
https://www.coindesk.com/business/2020/03/09/exiled-bitmain-co-founder-is-fighting-back-with-second-lawsuit/
Who are the Chinese here and which one is the bad guy and which one is the good guy?
Stop this, each individual and each business cares only about itself, they won't sell 100 miners for 40 septillion roubles at the risk of losing 1$.

And btw:
Is Union pay Chinese?  UnionPay suspends negotiations with sanctioned Russian banks
Is Sinopec Chinese?  China's Sinopec pauses Russia projects

Some people just can not imagine another country could or will take the position of the USA as an economical powerbase.

Not a country with an economy of the size of Italy soon to be Portugal

At least Their 'One Belt, One Road (OBOR) initiative refers to that. They could succeed also they could fail but it is clear now the USA is facing challenges to keep its unipolar power intact.

Read the news, China has already launched initiatives to bypass Russia in their new project.
Oh wait, in Russia probably all the news is about how you're one day ahead of conquering Lisbon.
 

[MinMan]

This is not China and Russia, stop making it like there are two entities, and Xi and Putin control everything.

It's about a Russian company that gets its mining equipment from a Chinese company.
And that Chinese company has $900 million in orders from just one US company and a total of nearly 6 billion over this year and half of the next year from listed companies , not counting the listing of BitFuFu with 1.5 billion and other plans like partnerships with Merkle, or Bitdeer's adventures in Texas and Wyoming.

Why risk this all for a company that will only pay you in roubles you can't exchange?
Sanctions don't work by patrolling the borders and ransacking convoys or merchandise, they work by making people not deal with that guy afraid of the consequences.

When we are talking about whole nations, 1 billion dollars (not even that much) is not a big amount. By comparison, USA is closer to 30 trillion dollars in debt, so it is not really that shocking. Plus, if the Chinese are selling things that could have been used and make money that way, then they are missing a chance and Americans are taking it. I agree though, it is not about nations, it is about the people.

Putting and Xi is behind it all, they are dictators who rule the nation however they want, if they didn't want to trade then they wouldn't but they do so they do. Whatever they say will happen, it is not like "what will they do", it is whatever they want to do, simple as that.

[Desmong]

With all these sanctions, Putin still is not ready to stop what he started. Although he has been looking for many ways to fight back but things seem difficult for him now. I don't think all these sanctions will change his mind cause he might have virtualized the outcome of the war on NaTo country. I hope he will have a change of thought so that Ukrainian citizens can go back to their abode in peace.